FG strengthens solid minerals policy to attract global investment, improve governance and enhance Nigeria’s competitiveness in mining

The Federal Government of Nigeria on Wednesday said it is strengthening policy and regulatory frameworks in the solid minerals sector to attract global investment and improve the country’s competitiveness in mining, as part of broader reforms unveiled in Abuja.

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Permanent Secretary of the Federal Ministry of Solid Minerals Development, Faruk Yabo, made the disclosure during a stakeholders’ workshop convened to assess Nigeria’s compliance with the African mineral governance framework.

Faruk Yabo said the engagement represents a critical integration platform for Nigeria as it seeks stronger participation in continental and global mining ecosystems.

Faruk Yabo explained that the workshop brought together representatives from government institutions, the private sector and academia to deliberate on the future direction of the sector.

The permanent secretary noted that strengthening regulatory systems would enhance access to financing, facilitate technology transfer and boost investor confidence.

Faruk Yabo added that credible sectoral data and improved governance standards would position Nigeria competitively among African mining nations.

The permanent secretary said fair lending mechanisms and sound policies are central to establishing systems capable of attracting sustainable financing into the sector.

Faruk Yabo stated that compliance with environmental standards remains a priority, emphasising that responsible mining practices would underpin long-term growth.

The permanent secretary described the reforms as transformative and essential to restoring confidence in the industry.

Faruk Yabo also commended development partners, including the African Union and the French Development Agency, for supporting Nigeria’s reform agenda.

Head of the African Minerals Development Centre, Tunde Arisekola, said the assessment forms part of technical services provided by the African Union to evaluate member states’ compliance with agreed continental mining development pillars.

Tunde Arisekola disclosed that preliminary findings indicate Nigeria is performing strongly in geological data management and transparency frameworks.

Tunde Arisekola, however, identified Artisanal and Small-Scale Mining as an area requiring further improvement, citing the significant number of Nigerians operating within the segment.

The official said efforts would focus on organising, training and retraining artisanal miners to ensure greater benefits from mining activities, while scaling up existing institutional structures.

The assessment forms part of ongoing engagements between Nigeria and the African Union aimed at strengthening governance, transparency and investment readiness within the solid minerals sector.

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The Federal Government strengthens solid minerals policy at a time when global competition for mining investment is intensifying, signalling a renewed commitment to unlocking the sector’s vast potential.